6Imposition of fee—approval of dealing relating to a petroleum title

6 Imposition of fee—approval of dealing relating to a petroleum title

Imposition of fee (1) A fee is imposed on the entry in the Register of the approval of a dealing, where the entry is made under section 494 of the Offshore Petroleum and Greenhouse Gas Storage Act 2006 after the commencement of this section. Amount of fee (2) The amount of the fee is worked out using the table:

<table cellspacing="0" cellpadding="0" style="margin-left:0.25pt; border-collapse:collapse"><thead><tr><td colspan="3" style="width:343.5pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:10pt; font-weight:bold">Amount of fee</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:10pt; font-weight:bold">Item</span></p></td><td style="width:189.75pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:10pt; font-weight:bold">In this case...</span></p></td><td style="width:107.25pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext" style="page-break-after:avoid"><span style="font-size:10pt; font-weight:bold">the amount of the fee is...</span></p></td></tr></thead><tbody><tr><td style="width:24.9pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">1</span></p></td><td style="width:189.75pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(a) a dealing relates to only one title; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(b) an entry is made in the Register of the approval of the dealing in so far as it relates to that title; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(c) none of items</span><span> </span><span>2, 5 and 6 apply</span></p></td><td style="width:107.25pt; border-top:1.5pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">1.5% of the value of the consideration for the dealing</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">2</span></p></td><td style="width:189.75pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(a) a dealing relates to only one title; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(b) an entry is made in the Register of the approval of the dealing in so far as it relates to that title; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(c) the entry of the approval relates to an interest in a petroleum production licence, infrastructure licence or pipeline licence; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(d) the value of the interest is greater than the value of the consideration for the dealing; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(e) the dealing has an effect of the kind referred to in item</span><span> </span><span>1, 2, 4 or 5 of the table in section</span><span> </span><span>486 of the </span><span style="font-style:italic">Offshore Petroleum and Greenhouse Gas Storage Act 2006</span><span>; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(f) the Titles Administrator is satisfied that the dealing was not made under another dealing that relates to that title, where a fee has been paid under this section in relation to an entry of the approval of the other dealing</span></p></td><td style="width:107.25pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">1.5% of the value of the interest</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">3</span></p></td><td style="width:189.75pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(a) a dealing relates to 2 or more titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(c) none of items</span><span> </span><span>4, 5 and 6 apply</span></p></td><td style="width:107.25pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">1.5% of the amount worked out by dividing the value of the consideration for the dealing by the number of titles in relation to which the dealing is approved by the Titles Administrator</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">4</span></p></td><td style="width:189.75pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(a) a dealing relates to 2 or more titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(c) the entry of the approval relates to an interest in a petroleum production licence, infrastructure licence or pipeline licence; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(d) the value of the interest is greater than the amount worked out by dividing the value of the consideration for the dealing by the number of titles in relation to which the dealing is approved by the Titles Administrator; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(e) the dealing has an effect of the kind referred to in item</span><span> </span><span>1, 2, 4 or 5 of the table in section</span><span> </span><span>486 of the </span><span style="font-style:italic">Offshore Petroleum and Greenhouse Gas Storage Act 2006</span><span>; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(f) the Titles Administrator is satisfied that the dealing was not made under another dealing that relates to any of those titles, where a fee has been paid under this section in relation to an entry of the approval of the other dealing</span></p></td><td style="width:107.25pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">1.5% of the value of the interest</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">5</span></p></td><td style="width:189.75pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(a) a dealing relates to one or more titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(c) either:</span></p><p class="Tablei"><span style="font-size:10pt">(i) apart from this item, the amount of the fee imposed by this section on the entry would have been less than the amount prescribed by the regulations; or</span></p><p class="Tablei"><span style="font-size:10pt">(ii) Part</span><span style="font-size:10pt"> </span><span style="font-size:10pt">4.6 of the </span><span style="font-size:10pt; font-style:italic">Offshore Petroleum and Greenhouse Gas Storage Act 2006</span><span style="font-size:10pt"> applies to the dealing only because the dealing creates, varies or terminates a charge over some or all of the assets of a body corporate</span></p></td><td style="width:107.25pt; border-top:0.75pt solid #000000; border-bottom:0.75pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">the amount prescribed by the regulations</span></p></td></tr><tr><td style="width:24.9pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">6</span></p></td><td style="width:189.75pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(a) a dealing relates to one or more titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(b) an entry is made in the Register of the approval of the dealing in so far as it relates to any one of those titles; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(c) apart from this item, the amount of the fee imposed by this section on the entry would have been more than the amount prescribed by the regulations; and</span></p><p class="Tablea" style="line-height:normal; font-size:10pt"><span>(d) the parties to the dealing satisfy the Titles Administrator that:</span></p><p class="Tablei"><span style="font-size:10pt">(i) the parties are related bodies corporate within the meaning of the </span><span style="font-size:10pt; font-style:italic">Corporations Act 2001</span><span style="font-size:10pt">; and</span></p><p class="Tablei"><span style="font-size:10pt">(ii) the dealing was entered into solely for the purpose of a reorganisation of the corporations concerned or any of them or solely for the purpose of securing the better administration of the corporations concerned or any of them; and</span></p><p class="Tablei"><span style="font-size:10pt">(iii) the dealing was not entered into substantially for the purpose of avoiding or reducing the fees that would, apart from this item, be payable under this section on the entry of approval of the dealing</span></p></td><td style="width:107.25pt; border-top:0.75pt solid #000000; border-bottom:1.5pt solid #000000; padding-right:5.4pt; padding-left:5.4pt; vertical-align:top"><p class="Tabletext"><span style="font-size:10pt">the amount prescribed by the regulations</span></p></td></tr></tbody></table>